The new report by Expert Market Research titled, 'Global Shock Wave Therapy Device Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025', gives an in-depth analysis of the global shock wave therapy device market, assessing the market based on its segments like technologies, modalities, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 6%
The shock wave therapy device market is being driven by the growing demand for non-invasive and convenient medical procedures and growing awareness regarding the harmful effects of pain killers on health. This is further supported by the rising incidences of bone related disorders among the growing geriatric population. The sedentary lifestyle is resulting in the increased prevalence of chronic muscular and tendon disorders, and back and neck pain. The rising disposable incomes and growing demand for physiotherapy, orthopaedics, and sports medicine have significantly aided the market growth. Over the forecast period, the rising demand for advanced treatment methods and the development of healthcare infrastructures are expected to significantly boost the market growth.
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Industry Definition and Major Segments
Shock wave therapy devices are the medical devices utilised to perform shockwave therapy. Shockwave therapy is used in pain management. It helps to treat a patient suffering from injury or pain resulting from illness. The purpose of this therapy is to trigger the body's own natural healing response without the use of painkillers.
By technology, the shock wave therapy device industry can be segmented into:
• Radial or Ballistic
The industry can be bifurcated based on modality into:
Based on application, the industry can be divided into:
• Erectile Dysfunction
On the basis of end use, the industry is categorised into
• Rehab Centres
North America dominates the shock wave therapy device market globally. The other major regional markets include:
• Asia Pacific
• Latin America
• Middle East and Africa
The global shock wave therapy device market is expected to be driven by the growing preference for technologically advanced treatment methods and the improving healthcare facilities. This will be further supported by the growing R&D activities, rising demand for hassle-free treatment options, and the increasing adoption of patient centric approach. The medical equipment manufacturers, such as BTL Medical Technologies s.r.o., are focusing on providing shock wave therapy devices with touch operation, along with therapeutic encyclopaedia with colour anatomical images and user-defined protocols for experienced users, thus, making the handling and use of these devices easy for any therapist. Moreover, the growing urbanisation and rising government investments to develop healthcare infrastructures in emerging nations of the Asia Pacific will further contribute to the industry growth.
Key Market Players
The major players in the market are BTL Medical Technologies s.r.o., Zimmer MedizinSysteme GmbH, Dornier MedTech GmbH, Electro Medical Systems S.A., Storz Medical AG, and Guangzhou Longest Science & Technology Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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